Member Info for NoQuestionMarks

Since the date of the Platypus licence expiry date.
Skerryvore, Ruvaal and Davaar reach a mahor decision time on the 1st of October.
I have my cash off the table.
If good news comes I may have to pay a premium to reinvest if I choose to do so.
The silence from the company and lack of buying does not fill me with confidence that things are happening in the background.
Good luck all

Oil production will decline.
But, Gas production is forecast to increase as we transition away from fossils.
Meanwhile Shell's renewables and energy solutions focus and capex will increase.
The greens want everything now, somewhere along the line pragmatism must play a part.

We have three licences that reach the end of phase A on the 1st of October, just over six weeks away.
P2400 (Skerryvore) reaches phase C, the Drill or Drop decision.
P2402 (Ruvaal) reaches phase C, the Drill or Drop decision.
P2406 (Davaar) reaches phase B, commit to shoot 311 sq km of 3D seismic. Or we can proceed straight to phase C by commiting to drill a well.

Some will call me a deramper, I don't give a fig.
I am merely trying to keep all current and potential investors informed.
Does Tom still have it?
He cannot run any longer.
Good luck all

Until I hear news I am assuming that Platypus has gone.
It will be picked up and developed by another, more competent, operator in a future licencing round.
Meanwhile...
Deltic energy have farmed out 5 licences to Cairn, as well as the 2 they farmed out to Shell, and
Serica are quietly increasing their gas production and reserves.
What has Parkmead done?
The North sea is booming and we just cannot seem to cut a deal.

Here's the pdf of our relinquishment report from May of 2017 for block 205/12. As the block is ours again I thought it may be of interest to some of you with an interest in expanding your knowledge of the Davaar prospect
The report came from the oga website, it is packed with useful information IMO.
https://dataogauthority.blob.core.windows.net/external/relinqs/Jul2018/Parkmead_Group_P2069_Block_205_12_Relinquishment_Report_July_2017.pdf

Until the company informs the market about Platypus I can only see a drift back into the 30's
Shareholders in profit are bound to take profits and wait for news.

Hi Livinthedream,
If you navigate from the honepage to Data centre/Interactive maps and tools/Licence documents you are then able to search for licence documents via licence number.
On Friday they were there, today there are no results for the licence.
Worth remembering that CalEnergy were the original licence holders, they then attracted Dana as partners.
Hopefully they are keen to continue to bring Platypus to production.
Good luck

The oil and gas authority are on the ball.
The 2nd term of the Platypus licence expired yesterday.
Licence info was there on Friday now it has all been removed as far as I can see.

The floating wind turbine demo has now been assembled and has reached the offshore test site near Stavanger. Cable installationset for late summer.
Shell 46.2%
TEPCO 30%
RWE 23.1%
Stiesdal 0.7%
https://www.stiesdal.com/offshore-technologies/tetra-offshore-foundations-for-any-water-depth/

Many Thanks for taking the time to summarise where we are robs12, clear, concise and painfully honest.
Platypus will probably take at least two years from assuming operatorship to first gas.
However, rather than waiting for something that may never come off, we will be waiting for something tangible that we can actually 'touch'
GLA.

Lots of discoveries/fields in relatively close proximity now.
In May we also made the 'Leopard' discovery which is only 32km east of the Whale discovery and 53km to the Perdido floating oil platform.
Whale is directly adjacent to Silvertip and Tobago and only 16km from Perdido which handles production from Great White, Silvertip and Tobago.
Paul Goodfellow said of Leopard "... Shell remains confident about the GoM and this latest discovery will help us deliver on our strategy to focus on valuable, high margin barrels as we sustain material upstream cash flows into the 2030s"

Thanks for the reply oilriches
On Selene, as I understand it, Shell will pay 75% of the first exploration well costs up to a gross well cost of $25m usd.
So, we pay $6.25m of the first $25m .
After that I assume costs are split fifty fifty in line with equity share of the licence.
Is this your understanding too?

Am I right in thinking that we are now funding our 30% share of costs?
The farm in deal was for Shell to carry us until a well decisuon or the end of 2020, whichever came first.
Fugro are a top notch outfit. They have been working in the North Sea with Shell since the late 1960s.
The job will be done right.

UK Natural Gas price up another 3% today.
Gas now 92p per therm, the highest for over five years.... This time last year it was trading at 15p per therm.
Dutch Gas futures €36... This time last year it was trading around €12.
With tensions over Nordstream2 and Russia in general, sources of secure gas supplies are going to become ever more valuable.
Gas use as a transition fuel will only add to the demand.
The sooner we crack on with Platypus the greater the chances of profiting from this 'sweet spot' we are entering.
All in my opinion only.
Good luck.

Sorry, in 2018 Platypus was recognised by the OGA as a field in development.

The OGA put licence holders on notice last week that their approach to licence amendments is returning to pre pandemic times (i.e Covid cant be used as an excuse any longer)

https://www.ogauthority.co.uk/news-publications/news/2021/update-on-oga-approach-to-licence-amendments-july-2021/

Platypus went into its second term in 2018
First term ended 2008
Licence start date 2004
You can understand the OGA getting a little tired of delays and excuses .
Heres hoping we grab the gift horse that is Platypus
Good luck all

The second term for the Platypus licence (Licence P1242) expires on the 31st of July.
The oil and gas authority website still shows Dana on the licence.
Surely we will hear something very soon?

Shell have confirmed today that they will appeal the 45% cut by 2030 court ruling from the hague.
I suspect our gambit will be that "We are evolving in step with society. Governments need to take the lead and set a course that we and others can follow"

I noticed that too, no idea why, as far as I know there haven't been any wells drilled previously?
The rock physics study should be in progress so there will be plenty for the partners to chew over once it is complete.
The contingent well, if we go ahead, is to drill to 3500 Metres TVDSS or 200m into the chalk group, whichever is shallower.
Another string to the bow!

NEO energy have completed the takeover of Zennor. So, we have a new partner on Skerryvore/Ruvaal.
NEO, like CalEnergy and Serica have deep pockets.
Funding for exploration will not be an issue.